Buying Real Estate During The Coronavirus FAQ's
Current as of 12 May 2020
If you are looking at buying a property during the Coronavirus period, we understand that you may have a number of questions about the real estate market and how you can buy a property during this time.
If you are looking at buying a property during the Coronavirus period, we understand that you may have a number of questions about the real estate market and how you can buy a property during this time.
We thought it would be helpful to share with you our most frequently asked questions and answers so you can navigate the path to a successful purchase during COVID-19.
Is it still possible to buy a property during the Coronavirus?
Yes, you can still buy properties during this period. In fact, right across our network we are being approached by homeowners who are looking to sell their property and are interested in finding out how many active buyers are in their marketplace. We are seeing buying opportunity is still strong across many of our markets.
How can I search and find a property to buy during the Coronavirus?
If you are looking to buy a new property, our website mcgrath.com.au is your go to resource for all our latest listings.
Many of our properties feature virtual tours and /or videos - plus all of our properties are captured with high quality professional photographs and floor plans, so you can easily inspect properties for sale from the comfort and safety of your own home.
How can I find out about off market buying opportunities?
Some vendors are interested in selling their property without an extensive marketing campaign. It is a good idea to connect with your local McGrath Specialist and discuss your buying intentions. They can then keep you informed of relevant opportunities that may interest you.
Can I still buy a property via auction?
If you live in NSW, ACT, VIC or QLD, on-site auctions are now permitted due to the easing of restrictions. The following measures are in place for each State and Territory:
- NSW: The NSW Government has relaxed the restrictions to once again allow on-site auctions on the basis that a number of key health guidelines are followed. For more on this announcement including the relaxation of restrictions and the key guidelines, click here.
- ACT: On-site / public auctions are permitted with a maximum of 10 people. Names and contact details of each person in attendance must be recorded. More here.
- VIC: On-site property auctions are permitted and are restricted to 10 people in addition to staff required to facilitate the auction. The contact details of all attendees will also be recorded. More information here.
- QLD: On-site property auctions are permitted, however the QLD government have restrictions in place until July restricting the number of people who can attend. For more information read the Queensland Government Roadmap to Easing Restrictions here. Social distancing must be observed and names and contact details of each person in attendance must be recorded. More here
In addition, you can still attend a McGrath property via auction using our online auction platform.
This easy to use platform offers buyers the opportunity to watch, register, bid, buy and exchange on live property auctions. This service will ensure bidders can still participate and bid at an auction remotely.
Live auctions will be hosted from the property or within the relevant McGrath office.
How can I inspect a property during the Coronavirus regulations?
NSW, ACT, VIC and QLD have all eased restrictions around property inspections. The details for each are State and Territory are below:
NSW: The NSW Government has relaxed the restrictions on property inspections to once again allow ‘traditional property inspections’ on the basis that a number of key health guidelines are followed. For more on this announcement including the relaxation of restrictions and the key guidelines, click here.
ACT: From 9 May 2020, COVID-19 real estate restrictions have been eased by the ACT Government:
- Open homes can proceed with a maximum of 10 people
- Physical distancing must be maintained, with one person per four square metres
- Social distancing also applies to indoor spaces, for example only up to 5 people in a 20 square metres room
VIC: The Victorian State Government has eased their COVID-19 restrictions to allow:
- Traditional open for inspections are permitted
- On-site open for inspections will be restricted to 10 people in addition to staff required to facilitate the inspection
- Contact details of all attendees will be recorded
- Social distancing measures are still in place
QLD: The QLD Department of Health (Queensland Health) has relaxed restrictions on ‘traditional property inspections’ to allow open house inspections. They have provided a road map detailing how open homes will be conducted and how many people can attend at any one time. For more information refer to the Queensland Government Road Map here.
Private inspections by appointment remains an option for all State and Territories.
In addition, our agents can offer virtual or digital inspections and appraisals. For more on these solutions, contact your local agent.
Please note we are complying with all government social distancing and hygiene regulations. during inspections.
How will McGrath agents mitigate the spread of the virus during the private inspection?
Our private viewings will be conducted with strict social distancing and hygiene procedures to help mitigate the spread of the virus. Our agents will:
- Regularly clean hands with soap and water or use an alcohol-based hand rub
- Not shake hands with open home visitors
- Make sure where possible hand sanitiser is used
- Wash and sanitise hands thoroughly after each private inspection
- Always wash hands with soap and water before eating and after visiting the bathroom
- Cover their nose and mouth when coughing and sneezing, and dispose of used tissues immediately
- Avoid close contact with anyone with cold or flu-like symptoms
- Seeing a health care professional if they are unwell and stay away from the workplace and other public places
How can I contact an agent about a property I’m interested in or about buying in the area?
We are here to help. All our agents are easily contactable via phone, email, social media or digital meeting platforms. They would love to hear from you and answer any questions you may have about one of their properties, the local market and to talk about your short or long-term property plans.
How do I stay informed about the latest information on COVID-19 and its impact on property?
The McGrath Insights Centre is your go-to-resource for the latest information on all things Coronavirus real estate related. Each week we will update this with practical insights from John McGrath and our wider network of industry leaders, about what is happening in the COVID-19 property market and how it impacts you.
We’ll also be sharing practical tips for homeowners, investors, buyers and renters, to help ensure you are in a strong position.
We’ll also be sharing practical tips for homeowners, investors, buyers and renters, to help ensure you are in a strong position.
A final note
From all of us at McGrath we hope you and your loved ones remain safe and healthy.
In the meantime, we want to assure you that we are operating under what we call ‘Business as Unusual’ conditions, but with 1000’s of property for sale right across the east coast of Australia we are still open for business.
For more information about buying a property download our Buying Guide.
This information is provided subject to our Terms and Conditions.
